Propelling the transformation

2021 Q3

LONGi Confidential
 Propelling the transformation
About LONGi

LONGi Confidential
 Propelling the transformation
About LONGi
The world‘s leading solar technology company
LONGi leads the PV industry to new level with product innovations and optimized performance-cost ratio with breakthrough
monocrystalline technologies. LONGi is recognized as the world’s most valuable solar technology company with the highest market
value. Innovation and sustainable development are two of LONGi’s core values.

Y2000 60000+ $ 8.42 Billion $ 1.32 Billion

Established Employees Revenue Net Profit
（Y2020） (Y2020)

AAA

20GW + 24.5GW
Total shipment of bifacial modules by Total shipment of monocrystalline Altman-Z Score 4.99, highest of all manufacturers The only AAA Rating in the new PV
Jun.2020, Ranked No.1 worldwide modules in 2020 (Bloomberg NEF Q4-2020 PV Outlook) ModuleTech Bankability Rankings

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 Propelling the transformation
R&D Investment
Continuous R&D investment and collaboration
LONGi spends 5~7% of its revenue on R&D. In the past 8 years, the total investment in R&D reached $1192M, which is the highest
in the PV manufacturing industry. And a total of 1001 patents have been obtained.
We cooperate with research institutes on advanced PV technology and product reliability, and work with industry partners to ensure that
LONGi products form part of optimal system solutions.

R&D ($M) % of Revenue

400
Research Institutions

6.8% 6.9% 6.8%

5.6% 4.8%
242
5.0% 5.1%
4.9% 4.9%
186
170

81
41 46
26
13

2012 2013 2014 2015 2016 2017 2018 2019 2020

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 Propelling the transformation
Record and Recognition
High efficiency & Top performance

24.06%
HIGH ACHIEVER TOP PERFORMER
in PV Module Index in PV Module Reliability Scorecard
2019~2021
2017~2021
PERC efficiency record 2019.01

25.21%
Efficiency
Quality
TOPCon efficiency record 2021.05 Performance
HIGHEST POWER GENERATION ALL QUALITY MATTERS AWARD
in PV Magazine Test Energy Yield Simulation in 2017, 2018 , 2021
2018.6 to 2021.1 Energy Yield Test in 2019, 2020 , 2021

25.26%
HJT efficiency record 2021.05

LONGi Confidential
 Propelling the transformation
Product Portfolio

LONGi Confidential
 Propelling the transformation
Product History Review
LONGi roadmap industry benchmark

From standard monocrystalline to monocrystalline PERC to P-PERC bifacial technology and M6 (166mm)&M10(182mm) size wafer with
gallium-doped technology, every LONGi’s new product spearheads the transformation of the photovoltaics industry and becomes a new
benchmark for the entire industry.

■ Mono ■ Multi
100%

92%
8%
13%
Global monocrystalline
market share up to 32%
44%

77% 73%
82%

87% 92%

68%
56%

23% 27%
18%
0%
2015 2016 2017 2018 2019 2020 2021E
LONGi Confidential 7
Global market share of crystalline sola product
 Propelling the transformation
Product History Review
Leading LCOE, realizing the value of technological innovation in volume production

LONGi insists on research-based methods to achieve industry breakthroughs and quickly promote the commercialization of every innovation.

LONGi Capacity: 1.5GW 5GW 6.5GW 8.8GW 14GW 50GW

Mono technology Mono PERC technology Bifacial power generation M6 larger size wafer M10 larger size wafer
Changing the industry status quo with Leads the industry into a new era Leads the industry into a new era
monocrystalline technology
Brings froth the onset of the low technology
attenuation and high efficiency Opens more application scenarios. of 450W+ ultra high power. of 540W+ ultra high power.

5.8
module.

5.1
4.81
4.45 4.4
4.07 3.96 3.76
-35%
3.67 3.48

2015 2016 2017 2018 2019 2020

LCOE
Data source: ITRPV. Monofacial applications ($ cent/kWh)
*LCOE calculation: 1500kWh/kWp first-year power generation for monofacial (bifacial gain: 8%); Bifacial applications ($ cent/kWh)
80% debt with 4% interest rate; 2% discount rate; 20-year straight line depreciation.
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 Propelling the transformation
Products Series

Product Series Hi-MO4 Hi-MO5 Hi-MO N（New Product）

60-cell: 375W(20.7%)
Main Power 72-cell: 540W(21.1%) 72-cell：560W（21.9%）
72-cell: 455W(20.9%)

• P-PERC with low LID • P-PERC with low LID • M10 high quality N type wafer
Features • 9BB half-cell • 9BB half-cell • High efficiency HPC technology
• M6 Ga-doped mono wafer • M10 Ga-doped mono wafer • Crackless Smart Soldering

• Suitable for large power

• Products for residential, C&I • Products for large power plants ,especially for areas with high
Product Strategy
rooftop and utility. plants. albedo, high temperature and high
BOS cost

Photo

60/66/72-cell available

LONGi Confidential 9
 Propelling the transformation
Hi-MO 4 Series
Products for various scenarios

• High power
Front side power up to 455W (20.9% efficiency) by using
M6 wafer, providing lower BOS cost and LCOE for PV
projects.

• Wide range of applications

Three types are available. Suitable for residential and C&I
rooftop projects, large power plants. Achieved new
milestone to exceed 10GW shipment within one year.

• Reliable bifacial gain

LONGi’s global bifacial module shipments is over 10GW by
Q4,2020 (ranked No. 1 worldwide). Energy yield and Hi-MO4m (60c) Hi-MO 4m (66c) Hi-MO 4/4m(72c)
reliability have been verified by customers. 1755×1038mm 1924×1038mm 2094×1038mm
19.5kg 22.0kg 32.3/27.5kg

LONGi Confidential 10
 Propelling the transformation
Hi-MO 4 Series
Power roadmap

Power Roadmap of 6oc Monofacial Power Roadmap of 72c Monofacial & Bifacial
390 470
Monofacial Bifacial

465 465
385 385 385
21.3%
21.1%
Power(W)

21.1%

Power(W)
460 460 460 460

380 380 380 20.9% 21.1% 21.1%

20.9% 20.9% 455 455 455 455 455

20.7% 20.9% 20.7% 20.9%

375 375
450 450 450
20.7%
20.5% 20.7%
370 445
2021H2 2022H1 2022H2 2023H1 2023H2 2021H2 2022H1 2022H2 2023H1 2023H2

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 Propelling the transformation
Hi-MO 5 Series
Optimal module size for large power plants

• Ultra high power

Front side power up to 540W (21.1% efficiency) by using
M10 wafer. Best choice for ultra-large power plants

• Insight on size
The optimal module size for power plants. Taking into
account every factors such as manufacturing yield,
transportation, reliability, and BOS cost to the industrial
chain.

• Crackless Smart Soldering Technology

Integrated segmented ribbons maximize front side light Hi-MO 5m (72c) Hi-MO 5 (72c)
capturing and connect cells with reduced gap. A combination 2256×1133mm 2256×1133mm
of high efficiency and high reliability 27.2kg 32.3kg

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 Propelling the transformation
Hi-MO 5 Series
Power roadmap

555 21.6%
Power Roadmap of 72c Bifacial 560 Power Roadmap of 72c Monofacial 21.6%

550 550 21.4% 555

555

21.7% 21.4%
21.5%
Power(W)

Power(W)
545 545 545 21.2% 550 550 550

21.3% 21.3% 21.5% 21.5%

21.2%
540 540 540 21.0% 545 545 545

21.1% 21.1% 21.3% 21.3%

535 20.8% 540 21.0%

2021H2 2022H1 2022H2 2023H1 2023H2 2021H2 2022H1 2022H2 2023H1 2023H2

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 Propelling the transformation
Hi-MO N Series
N-type bifacial module for large power plants

• High Efficiency& High Reliability

The module efficiency can be over 22% by adopting LONGi HPC
technology. “Zero” damage during cell production process, crackless
smart soldering and PID recovery enables high reliability

Excellent energy yield

The energy yield can reach 3% compared with PERC bifacial
module because of higher bifaciality, better power temperature
coefficient and low irradiance performance, etc.

System BOS cost saving

Ultra high efficiency increases installation capacity, thus reduces the
BOS cost of DC and AC sides, and dilutes the operation and
maintenance cost of power plants
Hi-MO N (72c)
2256×1133mm
32.3kg

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 Propelling the transformation
Hi-MO N Series
Power roadmap

Power Roadmap of 72c Bifacial

570

565 565 22.1%

22.1%
Power(W)

560 560 560 21.9%

21.9% 21.9%

555 555 21.7%

21.7%

550 21.5%
2022H1 2022H2 2023H1 2023H2

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 Propelling the transformation
LONGi’s PV Module Factories
The world largest module capacity
Xi’an 0.9GW

Xianyang 6.1GW

Datong 0.5GW

Quzhou 3GW

Jiaxing 8GW

Chuzhou 14GW

Taizhou 10.5GW
——————————————

Vina solar 7GW

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备注：精确的产能以官方公告为准
 Propelling the transformation
Efficiency and Power Evolution
24.5%
630

610

590 23.2% 23.5%

22.8%
570
22.2% 560
550 21.8%
Module power(W)

540 545
530 21.3% 535 HPC
510
20.8%
M10 wafer
490 Smart soldering
470
19.8% M6 wafer
445 +9BB 450
450

430
435

410
Half cut
Typical cell efficiency
390
380 385 PERC efficiency
Mono PERC 375 375
370 370 HPC efficiency
Mono 360
350 350 345
340 Module power
330 330 335

310
2015 2016 2017 2018 2019 2020 2021 2022

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Propelling the transformation
R&D Focus

LONGi Confidential
 Propelling the transformation
R&D Focus
• LONGi continues to develop and evaluate advanced technologies.
• We will introduce the right technology into production when it makes economic sense for customers.

Technology Efficiency (vs PERC) Challenges

Passivated Contact + 0.8~1.0% Reduce Cost

Higher CapEx and

Heterojunction + 0.8~1.0% manufacturing cost, immature
(Mass production)
for HVM production
PERC
HVM feasibility
Back Contact + 1.5~2.5%
Reduce Cost

Suitable top cell

Tandem /
HVM feasibility

*High Volume Manufacturing

Peter Dold. CPVC 2017

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Propelling the transformation

LONGi Confidential